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ONE PERSON COMPANY

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About

Under the Companies Act, 2013, now any Entrepreneur can start a new company with Single Ownership i.e. One Person Company (OPC). One Person Company is defined under Companies Act, 2013, which reads: "One Person Company means a company which has only one member". Under this type of Business Entity, there is no need for mandatory minimum two directors, as is the case in Private Limited Company incorporation. Company incorporation as "One Person Company (OPC)" is a fairly new phenomenon in India but is fast catching the acceptance of Entrepreneurs. One Person Company doesn't even require to hold Annual General Meeting. A One Person Company (OPC) is a hybrid structure, wherein it combines most of the benefits of a sole proprietorship and a company form of business. It has only one person as a member who will act in the capacity of a director as well as a shareholder.       

Before preparing up for OPC, please keep in mind the following points –

1. Only a natural person (Not Association of persons, Body of Individuals, Company, or any other entity) who is a resident of India in preceding calendar year (stayed in India for 182 days) can form OPC.             

2. You cannot incorporate more than one OPC or be the nominee of more than one OPC.

3. There is threshold of paid up capital (Rs. 50 lakh) and average annual turnover (Rs. 2 crore in 3 immediate preceding financial years) beyond which the status of OPC is lost. An OPC cannot convert voluntarily into any kind of company unless two years have expired from the date of incorporation of One Person Company, except threshold limit (paid up share capital) is increased beyond Rs.50 Lakhs or its average annual turnover during the relevant period exceeds Rs.2 Crores i.e., if the Paid-up capital of the Company crosses Rs.50 Lakhs or the average annual turnover during the relevant period exceeds Rs.2 Crores, then the OPC has to invariably file forms with the ROC for conversion in to a Private or Public Company, with in a period of Six Months on breaching the above threshold limits.
               

Benefits

One Person Company is a Separate Legal Entity registered under Companies Act,2013
In OPC, very few filings are there to be filed with Registrar of Companies. One Person Company doesn't even require to hold Annual General Meeting.
To form OPC only 1 Director,1 Shareholder and 1 Nominee is required.
One of the major benefits of OPC is that owner hold full control over his business.
One of the advantages of One Person Company is that the directors' personal property is always safe in One Person Company.
One Person can easily raise funds through Venture Capital, Financial Institutions, Bank etc.
An OPC requires minimum paperwork and compliances as compare to other companies.
An OPC needs to do its books and accounts audited annually by a Charted Accountant, hence it has greater credibility.

Documents Required

Individual / Director

Pan Card

Aadhar card/ Voter ID/ Passport/ Driving License of the Director

Latest Bank Statement
(should not be older than two months)

Latest passport
size photograph

For the Registered Office

Copy of Property Paper
(if self owned Property)

NOC
(if Parents owned Property)

Electricity Bill
(should not be older than two months)

Rent Agreement

Package Includes

Basic

5999

all inclusive fees

1 Digital Signatures (2 Class )

1 DIN

Name Approval

Copy of Certificate of incorporation

Capital 1 to 10 lakh

Pan & Tan

MOA/AOA (Soft Copy)

Includes Government Fees

Excludes Stamp Duty and Forign National

MSME Registration Certificate (if )

21 Useful Legal Agreements/ letters Template

Sample Invoice( GST)

Resolution for Opening  a Bank Account

Gold

17999

all inclusive fees

1 Digital Signatures (2 Class )

1 DIN

Name Approval

Copy of Certificate of incorporation

Capital 1 to 10 lakh

Pan & Tan

MOA/AOA (Soft Copy)

Includes Government Fees

Excludes Stamp Duty and Forign National

Annual Report

Directors Report

Board Resolution Preparation

MCA Annual Return Filing

Share Certificate ( Hard Copy )

Income Tax Return Filing

One Time Consultation

MSME Registration Certificate (If)

21 Useful Legal Agreements/ letters Template

Sample Invoice( GST)

Resolution for Opening  a Bank Account

Dimoand

33999

all inclusive fees

1 Digital Signatures (2 Class )

1 DIN

Name Approval

Copy of Certificate of incorporation

Capital 1 to 10 lakh

Pan & Tan

MOA/AOA (Soft Copy)

Includes Government Fees

Excludes Stamp Duty and Forign National

Annual Report

Directors Report

Board Resolution Preparation

MCA Annual Return Filing

Share Certificate ( Hard Copy )

Income Tax Return Filing

4 Tds Returns up to 50 transaction per return

12 GST Return Filing (GSTR-3B or GSTR-1) upto 100 transction per month

60 Min CA Consultation

MSME Registration Certificate (If)

21 Useful Legal Agreements/ letters Template

Sample Invoice( GST)

Resolution for Opening a Bank Account

Customize

0

Make a Package according to your specifications at a very reasonable price

Submit your Reqiurment

How long will it take?

DSC

1 Working Day

DIN

1 Working Day

Name Approval

Approx 5 Working Days

Incorporation Documents

Approx 8-13 Working Days

Frequently Asked Question

Only a natural person who is an Indian citizen and resident in India shall be eligible to act as a member and nominee of an OPC.
A person can be member in only one OPC.
The minimum paid-up and subscribed capital of the One Person Company would be Rs. 1, 00,000.
A One Person Company (OPC) is a hybrid structure, wherein it combines most of the benefits of a sole proprietorship and a company form of business. It has only one person as a member who will act in the capacity of a director as well as a shareholder. Section 2(62) defines One Person Company as a company which has only one person as a member.
Only one Director and Shareholder is needed fro an OPC.
In case the paid up share capital of an OPC exceeds fifty lakh rupees or its average annual turnover of immediately preceding three consecutive financial years exceeds two crore rupees, then the OPC has to mandatorily convert itself into private or public company
Digital Signature Certificates (DSC) are the digital equivalent (that is electronic format) of physical or paper certificates. Certificates serve as proof of identity of an individual for a certain purpose; for example, a driver's license identifies someone who can legally drive in a particular country. Likewise, a digital certificate can be presented electronically to prove one’s identity, to access information or services on the Internet or to sign certain documents digitally. DSC or Digital Signature is a physical signature in an electronic format. Digital Signatures are used in India for online transactions such as Filing Annual Return, Company or LLP Incorporation, Income Tax E-Filing, E-Tenders, etc. The different types of Digital Signature Certificates are: Class 2: Here, the identity of a person is verified against a trusted, pre-verified database. Class 3: This is the highest level where the person needs to present himself or herself in front of a Registration Authority (RA) and prove his/ her identity
DIN is the acronym for Director Identification Number issued to any person who has applied to the Ministry of Corporate Affairs and is a pre requisite to be appointed as a Director of any private or public limited company.

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